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₹1 Lakh Crore Research and Innovation Fund Aims to Strengthen India’s R&D Ecosystem
Prime Minister Narendra Modi launched the ₹1 lakh crore Research, Development, and Innovation (RDI) Fund to promote private sector participation in India’s research and innovation ecosystem. The announcement was made during the first Emerging Science Technology and Innovation Conclave (ESTIC), a forum that brings together policymakers, researchers, entrepreneurs, and global experts to accelerate India’s “Viksit Bharat 2047” goal.
During the ceremony, the Prime Minister also released a coffee table book celebrating India’s scientific achievements, as well as a vision document outlining future goals for the science and technology sector. The Department of Science and Technology (DST) will serve as the RDI Fund’s nodal ministry, guaranteeing successful implementation and collaboration.
The fund will have a two-tiered structure. A Special Purpose Fund (SPF) will be established inside the Anusandhan National Research Foundation (ANRF) to oversee the ₹1 lakh crore corpus. Rather than investing directly in startups or sectors, the RDI Fund will route resources through second-level fund managers such as Alternative Investment Funds (AIFs), Development Finance Institutions (DFIs), and Non-Bank Financial Corporations (NBFCs).
Investment committees comprised of finance, business, and technology experts will make independent allocation decisions, fostering transparency and innovation-led growth.
